Southern Cross GOLD Reinforces Continuity IN Rising Sun
Mariana Bermudez – Corporate Secretary
+1 604 685 9316 [email protected]
1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead – Corporate Development
+61 415 153 122 [email protected]
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
SOUTHERN CROSS GOLD CONSOLIDATED LTD
TSX: SXGC | ASX: SX2 | OTCQX: SXGCF
www.southerncrossgold.com
NEWS RELEASE
TSX: SXGC | ASX: SX2 | OTCQX: SXGCF
October 01, 2025
SOUTHERN CROSS GOLD REINFORCES CONTINUITY IN RISING SUN
Including 0.5 m @ 342.2 g/t AuEq (335.5 g/t Au, 2.8% Sb)
Project Now Contains 70 Drill Intersections >100 g/t m AuEq
Vancouver, Canada and Melbourne, Australia - Southern Cross Gold Consolidated Ltd (“SXGC”,
“SX2” or the “Company”) (TSX:SXGC) (ASX:SX2) (OTCQX:SXGCF) ( Frankfurt: MV3.F) announces
results from five diamond drill holes from the Rising Sun prospect, of the 100%-owned Sunday Creek gold-
antimony project in Victoria (Figures 1 to 6).
Michael Hudson, President & CEO, states: "Sunday Creek again delivers grade and scale. While we've
established the continuity in the up-and-down orientation of the vein sets through extensive drilling, it's now,
with this more recent focus on along-strike drilling, that we're seeing further lateral grade continuity confirmed.
SDDSC169AW1's intersection of 0.5 m @ 342 g/t AuEq being just 12 m along strike from our previous 0.7
m @ 604 g/t AuEq intersection in the RS15 vein reconfirms that the high grades extend consistently in
multiple directions.
"What makes Sunday Creek unique isn't just the high grades - it's the combination of high grades with broader
mineralized widths. SDDSC178W1's 18 m @ 3.7 g/t AuEq interval exemplifies this perfectly, containing four
distinct higher-grade vein sets within a single broad envelope. This demonstrates how stacked vein sets can
Five Key Points
1. Strike Continuity Confirmed: SDDSC169AW1 intercepted 0.5 m @ 342.2 g/t AuEq just 12 m along
strike from SDDSC118's previously reported 0.7 m @ 604.0 g/t AuEq intersection, demonstrating high-
grade continuity within the RS15 vein
2. Broad Mineralized Zones Host Multiple High -Grade Shoots : SDDSC178W1 returned
18.0 m @ 3.7 g/t AuEq containing four distinct higher-grade intervals, while SDDSC169AW1 delivered
5.9 m @ 4.6 g/t AuEq and 6.1 m @ 3.4 g/t AuEq, demonstrating both scale and grade
3. Stacked Vein Architecture Confirmed: Successfully intercepted seven distinct mineralized vein sets
in SDDSC169AW1 and nine vein sets in SDDSC178W1 across vertical intervals exceeding 160 m,
confirming the multi-level nature of the Rising Sun system
4. High Antimony Grades: Three individual assays exceeded 40% Sb (approaching pure stibnite at
approximately 71% Sb), including 43.8 % Sb and 42.1 % Sb, reinforcing Sunday Creek's strategic
importance as a Western World antimony source
5. Project Milestone: Results bring the total to 70 intersections >100 g/t AuEq x m and 74 intersections
>50 to 100 g/t AuEq x m across Sunday Creek, establishing it as one of the highest-grade gold projects
globally
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NEWS RELEASE
create substantially wider zones that are potentially mineable. Additionally, with three zones exceeding 40%
Sb alongside these high-grade, broad gold-rich intervals, Sunday Creek showcases a rare combination of
grade in two attractive commodities and significant width.
"This announcement at Rising Sun, along with previous announcements over the last 2 months at Apollo
East, Golden Dyke and Christina, demonstrates significant progress with resource drilling and confidence in
the continuity of mineralization, as well as extending the Exploration Target. With 70 drill intersections now
exceeding 100 gram-metre AuEq across the project, and our successful use of wedge technology enabling
precise targeting of these vein sets, Rising Sun, as one of five bodies across Sunday Creek, continues to
deliver on scale, grade, and continuity. This is exceptional by any global standard."
FOR THOSE WHO LIKE THE DETAILS
Key Take Aways
SDDSC169AW1 - Confirming RS15 Lateral Continuity:
• Intercepted seven distinct vein sets using wedge technology after initial hole deviation
• 0.5 m @ 342.2 g/t AuEq (335.5 g/t Au, 2.8% Sb) from 615.7 m, located just 12 m along strike from
previous 0.7 m @ 604 g/t AuEq intersection from 555.7 m , proving exceptional lateral grade
continuity in RS15 vein. Individual assay of 0.3 m @ 592.0 g/t Au from 616.0 m represents some
of the highest gold grades at Rising Sun
• 5.9 m @ 4.6 g/t AuEq from 550.3 m includes 1.4 m @ 12.6 g/t AuEq , demonstrating broader
mineralization enveloping high-grade cores
• Four separate mineralized intervals from 550 m to 700 m depth demonstrate stacked vein set
architecture across 150 m vertical extent
SDDSC178W1 - Multiple High-Grade Vein Sets with Exceptional Antimony:
• Successfully intercepted nine vein sets after wedging from deviated parent hole, with mineralization
intersected from 434 m to 593 m which shows excellent vertical continuity across 160 m
• 18.0 m @ 3.7 g/t AuEq from 574.8 m represents the broadest mineralized interval in these results,
containing four distinct higher-grade zones including 0.6 m @ 17.7 g/t AuEq and 1.5 m @ 9.0 g/t
AuEq
• Record antimony grades with three assays >40 % Sb, including 0.13 m @ 43.8% Sb from 589.8
m and 0.13 m @ 42.1% Sb 524.7 m (approaching pure stibnite at approx. 71 % Sb)
• 1.2 m @ 13.9 g/t AuEq 524.0 m includes 0.1 m @ 125.9 g/t AuEq combining both high gold (25.3
g/t) and antimony (42.1%), demonstrating co-precipitation of both metals
Technical Achievement:
• Both holes utilized precise wedge technology to achieve optimal vein intersections after initial
deviations
• Results bring project totals to 70 intersections >100 g/t AuEq x m and 74 intersections >50 to
100 g/t AuEq x m
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NEWS RELEASE
Drill Hole Discussion
Results are reported from five diamond drill holes at the Rising Sun prospect:
• SDDSC169, SDDSC169A, and SDDSC169AW1
• SDDSC178 and SDDSC178W1
SDDSC169 Series: The original hole (SDDSC169) was abandoned early due to excessive deviation. A
wedge hole (SDDSC169A) was drilled to maintain the planned infill spacing. This ultimately led to the
successful third wedge (SDDSC169AW1).
SDDSC178 Series: SDDSC178 was drilled west to east, running sub-parallel to the main dyke and alteration
zone but at a high angle to the mineralization and vein orientations. When the hole deviated too far from the
target zone, it was abandoned. A wedge hole (SDDSC178W1) was then completed to achieve the planned
infill spacing, resulting in successful intersections.
SDDSC169 SERIES
SDDSC169AW1 was drilled in a west to east orientation, sub-parallel to the main dyke and alteration package
and at a high angle to mineralization and vein orientations.
SDDSC169AW1 intercepted seven vein sets in the Rising Sun system and confirmed exceptional high-grade
continuity along strike within the RS15 vein structure (Figure 6). The hole returned 0.5 m @ 342.2 g/t AuEq
(335.5 g/t Au, 2.8% Sb) from 615. 7 m, located just 12 m along strike from SDDSC118 which previously
reported 0.7 m @ 604.0 g/t AuEq (604.0 g/t Au, 0.0% Sb) from 555.7 m (reported June 13, 2024). The
continuity of extremely high-grade mineralization confirms the robust nature of the RS15 vein system.
Drill hole highlights from SDDSC169AW1 include:
• 5.9 m @ 4.6 g/t AuEq (3.6 g/t Au, 0.4% Sb) from 550.3 m, including:
o 1.4 m @ 12.6 g/t AuEq (9.3 g/t Au, 1.4% Sb) from 554.8 m
• 3.4 m @ 1.4 g/t AuEq (1.3 g/t Au, 0.1% Sb) from 572.0 m
• 0.5 m @ 342.2 g/t AuEq (335.5 g/t Au, 2.8% Sb) from 615.73 m, including:
o 0.3 m @ 603.3 g/t AuEq (592.0 g/t Au, 4.7% Sb) from 615.98 m
• 2.8 m @ 2.0 g/t AuEq (0.8 g/t Au, 0.5% Sb) from 632.06 m
• 8.9 m @ 1.5 g/t AuEq (0.6 g/t Au, 0.4% Sb) from 678.78 m
• 6.1 m @ 3.4 g/t AuEq (3.0 g/t Au, 0.2% Sb) from 693.87 m, including:
o 0.1 m @ 117.4 g/t AuEq (116.0 g/t Au, 0.6% Sb) from 699.82 m
• 5.7 m @ 0.9 g/t AuEq (0.5 g/t Au, 0.2% Sb) from 704.27 m
• 1.2 m @ 5.2 g/t AuEq (3.9 g/t Au, 0.6% Sb) from 719.61 m
The intersection of multiple mineralized zones across significant intervals, combined with the high- grade
cores, demonstrates the potential for both selective high- grade mining and bulk mining scenarios at Rising
Sun.
SDDSC178 SERIES
SDDSC178W1 intercepted nine vein sets in the Rising Sun system, demonstrating the extensive stacked
nature of mineralization. Remarkably, three individual assays reported antimony grades exceeding 40%,
including 0.13 m at 43.8 % Sb and 3.15 g/t Au from 589.84 m and 0.13 m at 42.1 % Sb and 25.3 g/t Au from
524.66 m. These extraordinary antimony grades approach theoretical pure stibnite (Sb ₂S₃ = ~71% Sb) and
highlight Rising Sun's potential to supply critical antimony to Western markets.
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NEWS RELEASE
Drill hole highlights from SDDSC178W1 include:
• 0.6 m @ 51.5 g/t AuEq (30.2 g/t Au, 8.9% Sb) from 434.3 m
• 0.5 m @ 8.0 g/t AuEq (6.5 g/t Au, 0.6% Sb) from 526.99 m
• 1.2 m @ 13.9 g/t AuEq (2.9 g/t Au, 4.6% Sb) from 523.99 m, including:
o 0.1 m @ 125.9 g/t AuEq (25.3 g/t Au, 42.1% Sb) from 524.66 m
• 0.4 m @ 12.2 g/t AuEq (8.4 g/t Au, 1.6% Sb) from 528.67 m
• 1.0 m @ 5.3 g/t AuEq (4.3 g/t Au, 0.4% Sb) from 540.62 m
• 2.6 m @ 1.1 g/t AuEq (0.8 g/t Au, 0.1% Sb) from 542.96 m
• 1.1 m @ 5.4 g/t AuEq (4.9 g/t Au, 0.2% Sb) from 567.91 m
• 18.0 m @ 3.7 g/t AuEq (1.6 g/t Au, 0.9% Sb) from 574.75 m, including:
o 0.6 m @ 17.7 g/t AuEq (14.9 g/t Au, 1.2% Sb) from 580.0 m
o 1.5 m @ 9.0 g/t AuEq (4.1 g/t Au, 2.1% Sb) from 582.17 m
o 0.2 m @ 51.4 g/t AuEq (3.6 g/t Au, 20.0% Sb) from 584.69 m
o 1.3 m @ 14.1 g/t AuEq (2.0 g/t Au, 5.1% Sb) from 588.85 m
• 2.4 m @ 1.6 g/t AuEq (0.6 g/t Au, 0.4% Sb) from 596.0 m
• 5.8 m @ 1.2 g/t AuEq (1.1 g/t Au, 0.0% Sb) from 670.0 m
The 18 m mineralized envelope containing multiple high- grade cores exemplifies Sunday Creek's
characteristic mineralization style, where broader zones of economic mineralization host spectacular high-
grade shoots.
Pending Results and Program Update
Results are pending from 32 holes currently being processed and analyzed including nine holes that are
actively being drilled and four abandoned holes , with nine rigs actively drilling. The Company continues its
200,000 m drill program through Q1 2027.
About Sunday Creek
The Sunday Creek epizonal -style gold project is located 60 km north of Melbourne within 16,900 hectares
(“Ha”) of granted exploration tenements. SXGC is also the freehold landholder of 1,054.51 Ha that forms the
key portion in and around the main drilled area at the Sunday Creek Project.
Cumulatively, 220 drill holes for 97,553.07 m have been reported from Sunday Creek since late 2020. This
amount includes five holes for 929 m that have been drilled for geotechnical purposes and 19 holes for
2,120.27 m that were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have
been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for
5,599 m were completed from the late 1960s to 2008. The project now contains a total of Seventy (70)
>100 g/t AuEq x m and seventy- four (74) >50 to 100 g/t AuEq x m drill holes by applying a
2 m @ 1 g/t AuEq lower cut.
Our systematic drill program is strategically targeting these significant high-grade vein formations. Initially
these have been defined over 1, 500 m strike of the host from Christina to Apollo prospects, of which
approximately 620 m have been more intensively drill tested (Rising Sun to Apollo). At least 83 ‘rungs’ have
been defined to date, defined by high-grade intercepts (20 g/t to >7,330 g/t Au) along with lower grade edges.
Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figures 1 to 3).
Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional
host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor
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NEWS RELEASE
sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.
Further Information
Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D
animations, presentations and videos all available on the SXGC website. These data, along with an interview
on these results with Michael Hudson, President & CEO, can be viewed at www.southerncrossgold.com
No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However,
during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company
notes that due to rounding of assay results to one significant figure, minor variations in calculated composite
grades may occur.
Figures 1 to 6 show project location, plan, longitudinal views and analysis of drill results reported here and
Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported is
approximately 60% to 90 % of the sampled thickness for other reported holes. Lower grades were cut at
1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff
over a maximum of 1 m width.
Critical Metal Epizonal Gold-Antimony Deposits
Sunday Creek is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield
and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat
and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of
formation: epizonal (<6 km), mesozonal (6-12 km) and hypozonal (>12 km).
Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday
Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to
a 2023 European Union study. Antimony fea tures highly on the critical minerals lists of many countries
including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks
seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria,
located nearby to all SXG projects. Antimony alloys with lead and tin which results in improved properties for
solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen- containing flame
retardants. Adequate supplies of antimony are critical to the world's energy transition, and to the high- tech
industry, especially the semi -conductor and defence sectors where it is a critical additive to primers in
munitions.
Antimony represents approximately 21% to 24% in situ recoverable value of Sunday Creek at an AuEq of
2.39 ratio.
In August 2024, the Chinese government announced it would place export limits from September 15, 2024
on antimony and antimony products. This puts pressure on Western defence supply chains and negatively
affects the supply of the metal and pushes up pricing given China’s dominance of the supply of the metal in
the global markets. This is positive for SXGC as we are likely to have one of the very few large and high-
quality projects of antimony in the western world that can feed western demand into the future.
About Southern Cross Gold Consolidated Ltd. (TSX:SXGC) (ASX:SX2) (OTCQX: SXGCF)
Southern Cross Gold Consolidated Ltd. (TSX: SXGC, ASX: SX2, OTCQX: SXGCF), controls the Sunday
Creek Gold-Antimony Project located 60 km north of Melbourne, Australia. Sunday Creek has emerged as
one of the Western world's most significant gold and antimony discoveries, with exceptional drilling results
including 70 intersections exceeding 100 g/t AuEq x m from just 97.5 km of drilling. The mineralization follows
a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m
depth.
Sunday Creek’s strategic value is enhanced by its dual -metal profile, with antimony contributing
approximately 20 % of the in- situ value alongside gold, meaning Importantly, Sunday Creek can be
developed primarily based on gold economics, which reduces antimony -related risks while maintaining
strategic supply potential. This has gained increased significance following China's export restrictions on
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NEWS RELEASE
antimony, a critical metal for defense and semiconductor applications. Southern Cross’ inclusion in the US
Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as
a potential key Western antimony supplier.
Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing
non-refractory mineralization suitable for conventional processing and gold recoveries of 93 -98% through
gravity and flotation.
With a strong cash position, over 1,000 Ha of strategic freehold land ownership, and a large 200 km drill
program planned through Q 1 2027, SXGC is well- positioned to advance this globally significant gold-
antimony discovery in a tier-one jurisdiction.
NI 43-101 Technical Background and Qualified Person
Michael Hudson, President and CEO and Managing Director of SXGC, and a Fellow of the Australasian
Institute of Mining and Metallurgy , and Mr Kenneth Bush, Exploration Manager of SXGC and a RPGeo
(10315) of the Australian Institute of Geoscientists, are the Qualified Persons as defined by the NI 43- 101.
They have prepared, reviewed, verified and approved the technical contents of this release.
Analytical samples are transported to the Bendigo facility of On Site Laboratory Services (“On Site”) which
operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold
using the fire assay technique (PE01S method; 25 g charge), followed by measuring the gold in solution with
flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use
aqua regia digestion and ICP -MS analysis. The QA/QC program of Southern Cross Gold consists of the
systematic insertion of certified standards of known gold and antimony content, blanks within interpreted
mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the
analytical process.
SXGC considers that both gold and antimony that are included in the gold equivalent calculation (“AuEq")
have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical
understanding, historic production statistics and geologically analogous mining operations. Historically, ore
from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of
the project, for processing during WW1. The Costerfield mine corridor, now owned by Mandalay Resources
Ltd contains two million ounces of equivalent gold (Mandalay Q3 2021 Results), and in 2020 was the sixth
highest-grade global underground mine and a top 5 global producer of antimony.
SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources
Ltd in its 2024 End of Year Mineral Reserves and Resources Press Release, dated February 20, 2025. The
gold equivalence formula used by Mandalay Resources was calculated using Costerfield’s 2024 production
costs, using a gold price of US$2,500 per ounce, an antimony price of US$19,000 per tonne and 2024 total
year metal recoveries of 91% for gold and 92% for antimony, and is as follows:
𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 = 𝐴𝐴𝐴𝐴 (𝑔𝑔/𝑡𝑡) + 2.39 × 𝑆𝑆𝑆𝑆 (%)
Based on the latest Costerfield calculation and given the similar geological styles and historic toll treatment
of Sunday Creek mineralization at Costerfield, SXGC considers that a 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 = 𝐴𝐴𝐴𝐴 (𝑔𝑔/𝑡𝑡) + 2.39 × 𝑆𝑆𝑆𝑆 (%) is
appropriate to use for the initial exploration targeting of gold-antimony mineralization at Sunday Creek.
JORC Competent Person Statement
Information in this announcement that relates to new exploration results contained in this report is based on
information compiled by Mr Kenneth Bush and Mr Michael Hudson. Mr Bush is a Member of Australian
Institute of Geoscientists and a Registered Professional Geologist and Member of the Australasian Institute
of Mining and Metallurgy and Mr Hudson is a Fellow of The Australasian Institute of Mining and Metallurgy.
Mr Bush and Mr Hudson each have sufficient experience relevant to the style of mineralizat ion and type of
deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined
in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Exploration Manager and Mr Hudson
is President, CEO and Managing Director of Southern Cross Gold Consolidated Ltd. and both consent to
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the inclusion in the report of the matters based on their information in the form and context in which it appears.
Certain information in this announcement that relates to prior exploration results is extracted from the
Independent Geologist’s Report dated 11 December 2024 which was issued with the consent of the
Competent Person, Mr Steven Tambanis. The report is incl uded in the Company’s prospectus dated 11
December 2024 and is available at www.asx.com.au under code “SX2”. The Company confirms that it is not
aware of any new information or data that materially affects the information related to exploration results
included in the original market announcement. The Company confirms that the form and context of the
Competent Persons’ findings in relation to the report have not been materially modified from the original
market announcement.
The Company confirms that it is not aware of any new information or data that materially affects the
information included in the original document/announcement and the Company confirms that the form and
context in which the Competent Person’s findings are presented have not materially modified from the original
market announcement.
- Ends -
This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.
For further information, please contact:
Mariana Bermudez – Corporate Secretary - Canada
[email protected] or +1 604 685 9316
Executive Office: 1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead – Corporate Development
[email protected] or +61 415 153 122
Justin Mouchacca, Company Secretary - Australia
[email protected] or +61 3 8630 3321
Subsidiary Office: Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
Forward-Looking Statement
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks,
uncertainties and assumptions and accordingly, actual results and future events could differ materially from those
expressed or implied in su ch statements. You are hence cautioned not to place undue reliance on forward- looking
statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-
looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”,
“would”, “expect”, “prepared to” and other similar words or expressions. Factors that could cause future results or events
to differ materially from current expectations expressed or implied by the forward -looking statements include general
business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events,
developments, or factors causing any of the expectations, assumptions, and other fact ors ultimately being inaccurate
or irrelevant; and other risks described in the Company’s documents filed with Canadian or Australian (under code SX2)
securities regulatory authorities. You can find further information with respect to these and other risks in filings made by
the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and
available for t he Company in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2).
Documents are also available at www.southerncrossgold.com The Company disclaims any obligation to update or
revise these forward-looking statements, except as required by applicable law.
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Figure 1: Sunday Creek plan view showing selected results from holes SDDSC169, SDDSC169A, SDDSC169AW1, SDDSC178 and SDDSC178W1 reported here
(dark blue highlighted box, black trace), with selected prior reported drill holes.